DraftKings Inc. (DKNG) experienced a significant plummet in its stock price on Tuesday, February 18th, 2025, dropping by 5.03% during intraday trading. This decline came amidst a flurry of analyst reports that raised concerns about the company's prospects.
According to a research roundup by Reuters, several Wall Street firms revised their ratings and price targets for DraftKings. While some analysts remained bullish on the online sports betting and fantasy sports company, others expressed caution regarding its growth potential and valuation.
Notably, analysts at BofA Global Research, Citigroup, Jefferies, and Needham raised their target prices for DraftKings, citing the company's strong position in the rapidly growing sports betting market. However, other firms, such as Oppenheimer and Truist Securities, issued more conservative target price increases, suggesting potential headwinds or valuation concerns.
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